[Closed] banks rant

Are you their only customer then ?

You might want to think about changing banks then?
They were'nt known as (Sc)abby National for nothing you know.
When I had a mortgage with them many years ago they managed to loose some paperwork between their letterbox and reception desk and again later between the fax machine and reception desk, twice!
A local events group I have dealings with use Barclays who always seem very helpful at the local branch, but admitedly some items are done centrally, but only seem to take a few days to arrive.

Aah banks, a law unto themselves.

They are the only institute I know that can take three days for a payment to be made electronically from one account to another in the same name/bank.

Bunch of charlatans who are holding the country to ransom. 😈

I'll be one less once this is sorted - moving the account to one that is helpful

Funnily, Santander have been brilliant for me for the last 20 years... their service has been superb.

Can't comment on their timescales in sending out statements etc - I know that Santander - especially their business banking arm is very focused on 21st century banking (as they call it) so very into online contact, slightly less into telephone contact and against in-person contact and paper based stuff - do they still refuse to deal with business banking in branches? Sounds like you're a square peg in a round hole - other banks are more face-to-face.

As for the long and difficult pathway to getting access to the account - sadly you're dealing with forces far greater than one Spanish bank, the anti-fraud, anti-money laundering and whatever legislation and safeguards which is absolutely needed in the modern age take as long as they take and whilst it sometimes seems they just be awkward they rarely are - I don't have much sympathy for Banks - but not only do they have to put up with so many barriers for new customers, they're not able to explain why any in detail as the legislation forbids it.

[quote=jimster01 ]They are the only institute I know that can take three days for a payment to be made electronically from one account to another in the same name/bank.

Admittedly they have now largely (been forced to) fixed this now, but they seemed to be capable of making an instant electronic payment out, yet somehow losing those electrons for 3 days before they reappeared somewhere else.

but they seemed to be capable of making an instant electronic payment out, yet somehow losing those electrons for 3 days before they reappeared somewhere else.

But they don't do they... it just shows as off your balance straight away, that doesn't mean the other company has it straight away in that transaction.

[i] I asked what it takes so long to press print and put it in an envelope.[/i]

Two weeks does seem excessive, but the fact that you think that this is how a statement is produced probably says more about you then them, to be honest.

[i]Bunch of charlatans who are holding the country to ransom[/i]

... by providing one of the most sophisticated retail banking systems in the world for, in the most part, no cost the user. Yeah, they're bastards alright.

I asked what it takes so long to press print and put it in an envelope.

Two weeks does seem excessive, but the fact that you think that this is how a statement is produced probably says more about you then them, to be honest.

of course it takes more than "cmd P", I'm not that naive. someone has to put A4 paper in the printer first

... by providing one of the most sophisticated retail banking systems in the world for, in the most part, no cost the user. Yeah, they're bastards alright.

And yet everytime Government or BofE threaten reforms they threaten to take their toys elsewhere.

Are we talking about retail banks or merchant banks. Are you talking about retail banks or merchant banks?

Are we talking about retail banks or merchant banks. Are you talking about retail banks or merchant banks?

Don't the bigger Banks have two sides, and both are self-serving in their own favour? I just hate banks because like utility companies they are a necessary evil, sorry.

Santander are bad at this particular thing- they push you onto online services, then if there's an issue with the online service it takes forever to resolve. And branches refuse to help because you're supposed to use online

by providing one of the most sophisticated retail banking systems in the world for, in the most part, no cost the user. Yeah, they're bastards alright.

They sound positively saintly, what with them doing that out of the goodness of their hearts and all.

Santander sound as bad as Halifax, you try getting a straight answer in the branch.

Dad was in a care home, he got moved to hospital seriously ill, for 2 months and then to another care home, rang the idiots known as santander, to arrange for change of address,they refused to send out any forms,refused personal visit from me with dads details,wouldnt accept his voice on the phone.They eventually said bring him into branch and get him to sign forms in front of us, when i explained he had a broken leg, was almost deaf, and blind and had terminal cancer,they then suggested i borrow a wheelchair and bring him in, when i explained i had a van and no way of transfering him to the van, they then happily suggested that buses in london had ramps for wheelchairs, pity he wasnt on a major bus route in london but in wrexham north wales, with no bus service.

Then when my dad died it was an absolute nightmare trying to get probate for his funds to pay carehome fees etc,be affraid very affraid.

.

Last week
Me - Hello bank of scotland, my son would like to open a bank account. He's 13 and has a wedge of paper round and Christmas money.
BoS - you need an appointment, it takes at least an hour. We have to do checks and things, it is a complex job.
Me - hmm, really.
Me - that's fine, when is your next appointment?
BoS - next month.
Me - ok, can I book just after school, say about 3.45pm?
BoS - we only offer appointments Monday - Friday, 10 til 3.
Me - so the earliest he can open an account is February half term?
BoS - no, we are fully booked that week...
🙄
(Repeated with Lloyds TSB)

Me - hello, Royal Bank of Scotland? My son needs an account.
RBS - yes, why not pop down to our branch, it take 10 minutes or so. Any of our staff can do it.
😀

Have a wild guess which of our local banks now has his money...

Matt had almost the same conversation with BOS, he now has account at RBS

[quote=weeksy ]But they don't do they... it just shows as off your balance straight away, that doesn't mean the other company has it straight away in that transaction.

So you're telling me that my bank took it off my balance instantly but took 3 days to get round to giving it to the other bank via an instant electronic system? 😯 Why on earth would they do that?

Why on earth would they do that?

Is he celebrating the fact he got the money to the right account first time?? 😕

aracer - Member

So you're telling me that my bank took it off my balance instantly but took 3 days to get round to giving it to the other bank via an instant electronic system? Why on earth would they do that?

OK it's actually not as simple as it sounds... Assuming it was a BACS payment (most small personal ones go by faster payment between current accounts these days, which is near-instant), then it's essentially a same day transfer, but lagged. So it goes like this:

Day 1: instruct payment
Day 2: payment is processed behind the scenes
Day 3: Sending bank is debited, receiving bank is credited.

But, if you're using personal banking, internet banking etc, you'll invariably be debited on day one. The bank hasn't sent it anywhere, they're holding the money. Why? Actually not for profit reasons as you'd expect. The BACS payment is (er, more or less) irreversible on day 2, and they can only realistically check balances on day 1. So the funds are sequestered to prevent you sending a payment, then spending the money before it leaves your account. Otherwise you could send it on day one, spend it on day two.

(large scale users can use BACS direct and avoid this, but the bank uses other methods to protect itself and it's much more involved so not really practical for small users.)

So it's not a conspiracy, on this one occasion. It is all the other times.

Anything I send by electronic transfer via Nat West is instant at both ends - maybe a slight delay of a few hours when sending to a company in China

Yah, like I say faster payments is near-instant. CHAPS is still around too. But there's still about 3 times more payments sent by BACS than by Faster Payments